Impact Of Corporate Law Reforms On Business In India
P. Sorubavincy, The Central Law College
ABSTRACT
Corporate law reforms in India, particularly over the last decade, have significantly reshaped the landscape of business regulation, governance, and dispute resolution. A notable embodiment of these reforms is the Supreme Court’s September 26, 2025 judgment in Kalyani Transco v. M/S Bhushan Power and Steel Ltd., which upheld JSW Steel’s ₹19,700 crore resolution plan under the Insolvency and Bankruptcy Code (IBC), thus reinforcing the primacy of creditor-led restructuring and validating market-driven commercial decisions in insolvency processes. This paper examines the effects of key statutory reforms — notably the Companies Act, 2013 and its subsequent amendments, the IBC framework, and related regulatory changes on corporate governance, insolvency resolution, ease of doing business, and investor confidence. Through an analysis of recent case laws and contemporary legal developments, this study assesses both the successes and continuing challenges of corporate law reform in India. The paper concludes that while reforms have strengthened institutional frameworks and transparency, judicial interpretation and compliance burdens continue to shape business practices and market outcomes in nuanced ways.
